KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police and the Institute of Chartered Accountants of Nepal (ICAN) and have signed a memorandum of understanding (MoU) to strengthen cooperation against institutional financial crimes.

The agreement was signed on Tuesday by CIB Chief Additional Inspector General (AIG) Dr. Manoj Kumar KC and ICAN President CA Nil Bahadur Saru Magar.

According to a statement issued by ICAN, the MoU aims to enhance knowledge and expertise in investigating institutional financial crimes, facilitate information exchange on auditing-related matters, and strengthen coordination between the two institutions. It also enables the CIB to assist ICAN in regulatory and monitoring activities under the Nepal Chartered Accountants Act, 1997 including actions against fake auditors.

The agreement further emphasizes raising public awareness about financial fraud and economic crimes. Both institutions will exchange technical expertise and collaborate on capacity-building initiatives. ICAN will provide the CIB with access to its Forensic Accounting and Fraud Detection (FAFD) certification course to enhance the investigative skills of CIB personnel.

Under the MoU, the CIB will coordinate with ICAN while investigating complaints against ICAN members related to auditing or accounting practices. If any complaint involves professional misconduct under ICAN’s jurisdiction—such as breaches of the Nepal Chartered Accountants Act, 1997, the Chartered Accountants Regulations, 2004, or ICAN’s Code of Ethics—the CIB will work in consultation with ICAN. Conversely, if an issue falls under the police’s jurisdiction, ICAN will provide all relevant documents and cooperate with the CIB’s investigation in accordance with prevailing laws.

Speaking at the signing ceremony, CIB Chief Dr. KC and ICAN President Saru Magar said institutional financial crimes have been increasing rapidly, requiring stronger inter-agency cooperation, knowledge-sharing, and technical expertise to effectively curb illegal and unauthorized accounting practices.

Officials from both sides expressed confidence that the partnership will strengthen Nepal’s capacity to investigate and prevent financial crimes, ensure greater transparency in the auditing sector, and protect the professional integrity of ICAN members.